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InfoQuest

SEC warns people not being fooled into making investments in digital asset

October 16, 2019


Abstract : The Security and Exchange Commission (SEC) warned people to be highly alert and not be fooled into making an investment in the digital asset.

InfoQuest, (October 15, 2019) -- The Security and Exchange Commission (SEC) warned people to be highly alert and not be fooled into making an investment in the digital asset. Recently, several ads posted on online media and social media were found to fool people into making an investment in the digital asset in the name of celebrities, together with cases where photos of SEC office were transmitted to enhance credibility. SEC warned investors not to make investments if they have not verified the validity of information. Otherwise, they will risk losing all money and will not be protected by the supervision laws of SEC.

In most cases, investment projects were purported to use AI technology to help investors make a profit through trading and digital currency exchange; some were like Ponzi scheme, claiming that more returns will be made by inviting others to make investments. Investors should avoid such investments; otherwise they will lose all money; or, they can check whether those who invite them to make investments are staff with license or registration in line with the Emergency Decree on Digital Assets Business Operation (B.E.2018). Investors can check the name list via www.sec.or.th and SEC Check First app.

Besides, to consult information or offer any clues about suspicious behaviors, investors can call 1207, the 24-hour hotline of SEC Help Center. SEC will make in-depth investigation, and launch handling procedures together with relevant institutions if any irregularities are found.

Source: InfoQuest, by Rachada Kongkhunthian/Sasithorn, translated by Xinhua Silk Road.

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Keyword: investment digital-asset Thailand-SEC

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